Southwestern Energy to repay term loan, fund tender offers via notes

By Sarah Lizee

Olympia, Wash., Sept. 11 – Southwestern Energy Co. plans to use the proceeds from an offering of $1.15 billion senior notes to pay off its 2015 amended and restated term loan and to fund its concurrently announced tender offers, according to a press release.

The company plans to use $327 million of the net proceeds to pay off the term loan, with remaining proceeds, together with cash on hand, to fund the concurrent tender offers to purchase all its 4.05% senior notes due 2020 and up to $100 million of each of the 4.1% senior notes due 2022 and 4.95% senior notes due 2025.

If the tender offers are not completed or the amount of securities tendered and accepted for payment is less than the proceeds of the offering, proceeds may be used for other debt repayment.

Southwestern Energy is a Houston-based natural gas and oil company.

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